There's a quiet ache in India's tech ambition. What if we'd seized the moment decades ago? In 1984, our own Semiconductor Complex Limited (SCL) was founded, even before TSMC. We were just two years behind the cutting edge in 1987. Yet, bureaucratic hurdles, a devastating fire, and lack of sustained support meant we missed the initial wave, falling "12 generations behind." A major multinational chose China over India in the mid-2000s due to delays and duties, costing 4,000 jobs. A painful reminder of lost opportunities.
But today, it's not just economic growth; it's electronic self-reliance, vital for national security and prosperity. Semiconductors are the "lifeblood" of the digital economy, powering everything from smartphones to defense. In a world of supply chain vulnerabilities and geopolitical tensions, controlling our chip destiny is a necessity. The USA is also re-shoring.
The government's current push, with its India Semiconductor Mission and US$10 billion Production Linked Incentive (PLI) scheme, is monumental. It covers 50% of project costs, with states adding incentives. This isn't just subsidies; it's a strategic de-risking mechanism. This capital-intensive industry demands "patient and disciplined" investment, as fab-making's low ROI makes it unattractive for private players without support.
However, government's role must evolve beyond financial incentives. It needs a "national doctrine" integrating industrial vision with economic security and tech autonomy. This means a deeper, active role in policy, ensuring "precision industrial execution" and embedding India in global trade and tech alliances. We must build "institutions, not just infrastructure," focusing relentlessly on a specialized workforce, moving to "nuanced expertise" in areas like cleanroom operations and materials science.
For big private players, viable ROI emerges here. Government's capex support makes prohibitive investments viable. Focus on Assembly, Testing, Marking, and Packaging (ATMP) offers quicker entry with lower capital and shorter gestation, enabling faster operationalization and returns. India's booming domestic market, projected to reach $103 billion by 2030, provides massive demand, ensuring long-term viability. Our strong chip design talent, nearly a fifth of the global workforce, offers a unique foundation for a cohesive, end-to-end ecosystem.
Yes, we missed the boat once. But the tide is turning, the window of opportunity is open. It's time for India to not just dream, but to build, innovate, and secure its rightful place in the global semiconductor revolution. This is our moment. Will we seize it with unwavering resolve?
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